Fund Overview Fund Overview Share Class N N I Z NAV | as of 05/20/2022 $11.64 -$0.07 (-0.60%) Morningstar | Style Box V B G L M S Growth of $10,000 (Hypothetical) Since Inception 11/03/2015 to 04/30/2022 = $16,507.88 From: To: 3YR 5YR 10YR INCEP. INCEP. 3YR 5YR 10YR INCEP. The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. View Performance Read Important Investment Disclosures Objective Seeks to provide long-term capital appreciation by investing in a concentrated all cap portfolio of securities. Why Consider May be appropriate for investors looking to gain exposure to a portfolio of U.S. and non-U.S. companies that may invest in securities of all market capitalizations Enlightened risk management—portfolio managers will not average down on losing positions Employs a fundamentals-driven Absolute Value® investment philosophy, targeting a concentrated, all-cap Fund portfolio of securities representing River Road’s “best ideas” across their core strategies Documents Fact Sheet Commentary Summary Prospectus Prospectus 2021 Year End Distributions View All Documents R. Andrew Beck CHIEF EXECUTIVE OFFICER AND PRESIDENT See Our Approach Read Bio Thomas S. Forsha, CFA CO-CHIEF INVESTMENT OFFICER See Our Approach Read Bio Investment Style River Road Focused Absolute Value Fund has an Equity Income Objective, seeking to achieve income and capital appreciation. Large Mid Small Value Blend Growth Equity Objective River Road Focused Absolute Value Fund is categorized as Large-Blend. It invests in large-cap companies with medium risk. Morningstar Ratings Risk-adjusted returns as of 03/31/2022 Overall Rating (of 364) 3 Years (of 364) 5 Years (of 323) 10 Years — Category Mid-Cap Blend Read Important Investment Disclosures R. Andrew Beck CHIEF EXECUTIVE OFFICER AND PRESIDENT Andrew Beck serves as President & Chief Executive Officer for River Road. Additionally, he is Portfolio Manager for River Road’s Small Cap Value and Small‐Mid Cap Value Portfolios and Lead Portfolio Manager of the firm’s Focused Absolute Value™ Portfolio. Prior to co-founding River Road in 2005, Mr. Beck served as Senior Research Analyst and, later, Senior Vice President and Portfolio Manager for SMC Capital Inc. (Commonwealth SMC). Mr. Beck earned a BS in finance from the University of Louisville and an MBA from the F.W. Olin School at Babson College. Thomas S. Forsha, CFA CO-CHIEF INVESTMENT OFFICER Thomas Forsha serves as Co-Chief Investment Officer for River Road. Additionally, he is Portfolio Manager for River Road’s Dividend All-Cap Value Portfolios and the firm’s Focused Absolute Value® Portfolio. Prior to joining River Road in 2005, Mr. Forsha served as Equity Analyst and Portfolio Manager for ABN AMRO Asset Management USA, where he was responsible for management of the North American equity allocation of the firm’s Global High Income Equity Fund. Mr. Forsha holds a BS in finance from The Ohio State University’s Fisher College of Business and an MBA from The University of Chicago Booth School of Business. He earned the Chartered Financial Analyst designation in 2002 and is a member of the CFA Institute and CFA Society Louisville. Performance Performance Read Important Investment Disclosures Returns Trailing Returns Trailing Returns Monthly Quarterly Calendar Year Returns The performance data shown represents past performance. Past performance is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For performance information through the most recent month end please call 800.835.3879. From time to time, the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields of the Fund are net of expenses, and the returns and yields of the indices exclude expenses. For time periods where the fund inception date preceded the benchmark, the benchmark data will not be shown. Returns for periods less than one year are not annualized. Expense Ratios Gross Expense Ratio: 1.12% Net Expense Ratio: 1.07% Expense Cap Expiration Date: 03/01/2023 Distributions & Pricing Distributions Distributions Chart List Historical Pricing Calendar Year Distributions Ex-Date Total Distribution Income Short-term Cap Gains Long-term Cap Gains Dec 15, 2021 $0.953300 — — $0.953300 Dec 16, 2019 $0.243400 $0.015200 $0.077200 $0.151000 Dec 27, 2018 $0.758900 $0.054700 $0.529400 $0.174800 Dec 27, 2017 $0.938500 $0.067600 $0.442700 $0.428200 Dec 27, 2016 $0.818600 $0.086300 $0.693600 $0.038700 From: To: Risk & Return Stats As of: 04/30/2022 3YR 5YR 10YR Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -5.85 -2.91 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 20.27 18.10 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.11 0.26 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 88.96 95.57 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 112.01 107.53 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 1.03 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 93.77 91.89 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.06 5.17 - View All Characteristics & Stats All Characteristics & Stats River Road Focused Absolute Value Fund (ARRFX) Portfolio Characteristics (Equity) Risk & Return Market Cap Valuation Characteristics Growth Characteristics Fund Holdings Fund Russell 3000® Value Index Fund Assets (Mil.$) $146 Number of Holdings 27 2,282 Weighted Avg. Market Cap (Mil.$) $235,996 $158,530 Median Market Cap (Mil.$) $22,610 $2,325 Weighted Avg. P/E (1-yr Forward EPS) 15.18 15.34 Weighted Avg. P/E (Trailing EPS) 13.75 16.45 PEG Ratio 0.81 1.14 Weighted Avg. P/B 2.26 2.38 EPS Growth (Trailing 3-yr %) 21.80% 8.81% EPS Growth (Trailing 5-yr %) 13.57% 12.95% Forward EPS Growth (1-yr %) 13.83% 8.98% Forward EPS Growth (Long Term %) 13.51% 11.43% Revenue Growth (Trailing 5-yr %) 9.59% 6.04% Return on Equity 13.82% 17.40% Weighted Avg. Dividend Yield 1.03% 1.90% Debt to Equity 96.25 90.45 Trailing 12-Months Portfolio Turnover 72.05% As of: 03/31/2022 Risk & Return 3 Years 5 Years 10 Years Alpha Alpha is a measure of performance on a risk-adjusted basis. Alpha takes the volatility (price risk) of a security or mutual fund and compares its risk-adjusted performance to a benchmark index. The excess return of the security or fund relative to the return of the benchmark index is a fund's alpha. -5.85 -2.91 - Standard Deviation Standard Deviation is a measure of the dispersion of a set of data from its mean. The more spread apart the data, the higher the deviation. Standard deviation is calculated as the square root of variance. 20.27 18.10 - Sharpe Ratio Sharpe Ratio is a risk-adjusted measure developed by William Sharpe. It is calculated using standard deviation and excess return to determine reward per unit of risk. First, the average monthly return of the 90-day Treasury bill (over a 36-month period) is subtracted from the portfolio's average monthly return. The difference in total return represents the portfolio's excess return beyond that of the 90-day Treasury bill, a risk-free investment. An arithmetic annualized excess return is then calculated by multiplying this monthly return by 12. To show a relationship between excess return and risk, this number is then divided by the standard deviation of the portfolio's annualized excess returns. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance. 0.11 0.26 - Upside Capture Ratio (%) Upside Capture Ratio (%) is a measure of a manager's performance in up markets relative to a particular benchmark. An up market is one in which the market's quarterly (or monthly) return is greater than or equal to zero. For example, a ratio of 50% means that the portfolio's value increased half as much as its benchmark index during up markets. 88.96 95.57 - Downside Capture Ratio (%) Downside Capture Ratio (%) measures a manager's performance in down markets relative to a particular benchmark. A down market is one in which the market's quarterly (or monthly) return is less than zero. For example, a ratio of 50% means that the portfolio's value fell half as much as its benchmark index during down markets. 112.01 107.53 - Beta Beta measures the relationship between the portfolio's excess return over T-bills (representing a risk-free rate) relative to the excess return of the portfolio's benchmark. A low beta does not imply that the portfolio has a low level of volatility; rather, a low beta means that the portfolio's market-related risk is low. Beta is often referred to as systematic risk. 1.01 1.03 - R-Squared R-Squared ranges from 0 to 100 and reflects the percentage of a portfolio's movements that are explained by movements in its benchmark index. A portfolio with an R-squared of 100 means that all movement is completely explained by benchmark index movement. Thus, a portfolio that invests only in S&P 500 stocks will have an R-squared very close to 100. Conversely, a low R-squared indicates that very little of the portfolio's movement is explained by benchmark movement. An R-squared measure of 35, for example, means that movements in its benchmark index can explain only 35% of the portfolio's movements. R-squared is used to ascertain the significance of a particular beta or alpha and generally a higher R-squared will indicate more useful alpha and beta figures. 93.77 91.89 - Tracking Error (%) Tracking Error (%) , which is often referred to as the active risk of the portfolio, measures how closely a manager's returns track the returns of a benchmark index. Specifically, tracking error measures the standard deviation of the excess returns a portfolio generates compared to its benchmark. This gives an indication of the volatility of a portfolio versus its benchmark. If a manager tracks a benchmark closely, then tracking error will be low. If a manager tracks a benchmark perfectly, then tracking error will be zero. 5.06 5.17 - Information Ratio Information Ratio s a ratio of portfolio returns above the returns of a benchmark (usually an index) to the volatility of those returns. The information ratio (IR) measures a portfolio manager's ability to generate excess returns relative to a benchmark, but also attempts to identify the consistency of the investor. This ratio will identify if a manager has beaten the benchmark by a lot in a few months or a little every month. The higher the IR, the more consistent a manager is, and consistency is an ideal trait. -1.28 -0.60 - Treynor Ratio (%) Treynor Ratio (%) , which was developed by Jack Treynor, measures reward per unit of beta risk. It measures returns earned in excess of that which could have been earned on a less risk investment per each unit of market risk. The Treynor Ratio relates the difference between the portfolio return and the risk-free rate to the portfolio beta for a given time period. 2.29 4.56 - Max Drawdown Max Drawdown is the maximum loss from a peak to a trough of a portfolio, before a new peak is attained. Maximum Drawdown is an indicator of downside risk over a specified time period. -30.17 -30.17 - As of: 04/30/2022 Market Cap Fund Russell 3000® Value Index Market Cap ($mm) 0 - 1,000 0.00% 0.96% Market Cap ($mm) 1,000 - 1,500 0.00% 0.74% Market Cap ($mm) 1,500 - 2,500 0.00% 1.55% Market Cap ($mm) 2,500 - 5,000 4.43% 3.35% Market Cap ($mm) 5,000 - 10,000 9.99% 6.37% Market Cap ($mm) 10,000 - 25,000 30.83% 13.58% Market Cap ($mm) 25,000 - 50,000 13.96% 15.81% Market Cap ($mm) 50,000 - 100,000 5.99% 15.34% Market Cap ($mm) 100,000 - 200,000 7.21% 14.39% Market Cap ($mm) 200,000 - 27.59% 27.91% Market Cap – NA 0.00% 0.00% As of: 03/31/2022 Valuation Characteristics Fund Russell 3000® Value Index P/E 0-10 30.98% 16.86% P/E 10-15 7.33% 12.88% P/E 15-20 15.72% 13.61% P/E 20-25 10.23% 16.62% P/E 25-Above 28.18% 36.18% P/E – NA 7.56% 3.85% As of: 03/31/2022 Growth Characteristics Fund Russell 3000® Value Index EPS Growth (Trailing 3-yr %) - Negative 13.76% 24.33% EPS Growth (Trailing 3-yr %) 0 - 5 11.07% 12.23% EPS Growth (Trailing 3-yr %) 5 - 10 1.87% 12.61% EPS Growth (Trailing 3-yr %) 10 - 15 1.68% 10.35% EPS Growth (Trailing 3-yr %) 15 - 20 3.86% 8.23% EPS Growth (Trailing 3-yr %) Above 20 47.26% 25.49% EPS Growth (Trailing 3-yr %) - NA 20.50% 6.76% As of: 03/31/2022 Read Important Investment Disclosures Portfolio & Holdings Portfolio & Holdings Top Holdings (Equity) As of: 03/31/2022 Berkshire Hathaway Inc, Class B 11.84% Liberty Media Corp-Liberty SiriusXM, Class C 5.89% Liberty Broadband Corp, Class C 5.70% LKQ Corp 4.97% Comcast Corp, Class A 4.92% Alphabet Inc, Class C 4.63% AES Corp 4.54% NCR Corp 4.37% Fiserv Inc 4.25% News Corp, Class A 3.86% % in Top 10 Holdings 54.95% View Holding Details Holding Details River Road Focused Absolute Value Fund (ARRFX) Top 10 Holdings (Equity) All Holdings 10 Best Performing Stocks 10 Worst Performing Stocks Fund Holdings 03/31/2022 Berkshire Hathaway Inc, Class B 11.84% Liberty Media Corp-Liberty SiriusXM, Class C 5.89% Liberty Broadband Corp, Class C 5.70% LKQ Corp 4.97% Comcast Corp, Class A 4.92% Alphabet Inc, Class C 4.63% AES Corp 4.54% NCR Corp 4.37% Fiserv Inc 4.25% News Corp, Class A 3.86% % in Top 10 Holdings 54.95% As of: 03/31/2022 Download All Holdings (PDF) As of: 04/30/2022 Ticker Name Sector Asset Class Country Currency Par/Shares Price ($) Market Value ($) % of Fund BRK/B Berkshire Hathaway Inc, Class B Financials S US USD 39,843.00 322.83 $12,862,515.69 10.28% LKQ LKQ Corp Consumer Discretionary S US USD 150,201.00 49.63 $7,454,475.63 5.96% LSXMK Liberty Media Corp-Liberty SiriusXM, Class C Communication Services S US USD 176,720.00 41.88 $7,401,033.60 5.92% LBRDK Liberty Broadband Corp, Class C Communication Services S US USD 57,822.00 111.82 $6,465,656.04 5.17% CMCSA Comcast Corp, Class A Communication Services S US USD 144,165.00 39.76 $5,732,000.40 4.58% FISV Fiserv Inc Information Technology S US USD 57,572.00 97.92 $5,637,450.24 4.51% NCR NCR Corp Information Technology S US USD 149,437.00 35.03 $5,234,778.11 4.19% WBA Walgreens Boots Alliance Inc Consumer Staples S US USD 123,107.00 42.40 $5,219,736.80 4.17% AAP Advance Auto Parts Inc Consumer Discretionary S US USD 25,274.00 199.63 $5,045,448.62 4.03% AES AES Corp Utilities S US USD 242,052.00 20.42 $4,942,701.84 3.95% GOOG Alphabet Inc, Class C Communication Services S US USD 2,117.00 2,299.33 $4,867,681.61 3.89% UL Unilever PLC ADR Consumer Staples S GB USD 103,629.00 46.26 $4,793,877.54 3.83% QCOM QUALCOMM Inc Information Technology S US USD 33,041.00 139.69 $4,615,497.29 3.69% VST Vistra Corp Utilities S US USD 182,978.00 25.02 $4,578,109.56 3.66% ORCL Oracle Corp Information Technology S US USD 62,077.00 73.40 $4,556,451.80 3.64% WTW Willis Towers Watson PLC Financials S GB USD 19,774.00 214.86 $4,248,641.64 3.40% KKR KKR & Co Inc, Class A Financials S US USD 76,853.00 50.97 $3,917,197.41 3.13% UPS United Parcel Service Inc, Class B Industrials S US USD 20,560.00 179.98 $3,700,388.80 2.96% NWSA News Corp, Class A Communication Services S US USD 185,759.00 19.86 $3,689,173.74 2.95% ALIT Alight Inc, Class A Industrials S US USD 347,683.00 8.59 $2,986,596.97 2.39% BBWI Bath & Body Works Inc Consumer Discretionary S US USD 55,319.00 52.89 $2,925,821.91 2.34% DHI DR Horton Inc Consumer Discretionary S US USD 37,547.00 69.59 $2,612,895.73 2.09% PII Polaris Inc Consumer Discretionary S US USD 26,283.00 94.94 $2,495,308.02 2.00% AEL American Equity Investment Life Holding Co Financials S US USD 63,183.00 37.72 $2,383,262.76 1.91% PGR Progressive Corp Financials S US USD 20,025.00 107.36 $2,149,884.00 1.72% PINC Premier Inc, Class A Health Care S US USD 52,155.00 36.21 $1,888,532.55 1.51% ACI Albertsons Cos Inc, Class A Consumer Staples S US USD 60,368.00 31.28 $1,888,311.04 1.51% Cash & Equivalents Cash C US USD 0.00 0.00 $778,141.29 0.62% Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Berkshire Hathaway Inc, Class B 1 10.78% 18.03% Bristol-Myers Squibb Co 2 3.08% 18.96% Progressive Corp 3 1.77% 11.12% AES Corp 4 4.20% 6.41% CACI International Inc, Class A 5 2.47% 11.91% American Equity Investment Life Holding Co 6 1.97% 2.54% Vistra Corp 7 2.93% 2.66% Alphabet Inc, Class C 8 2.59% 4.77% Willis Towers Watson PLC 9 2.97% -0.28% Advance Auto Parts Inc 10 1.10% 1.18% As of: 03/31/2022 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Download Fund Commentary (PDF) Fund Holdings Sort order Avg. Weight Total Return Meta Platforms Inc, Class A 20 2.67% -33.89% LKQ Corp 19 4.38% -24.08% Liberty Broadband Corp, Class C 18 6.72% -16.00% DR Horton Inc 17 2.69% -31.17% Liberty Media Corp-Liberty SiriusXM, Class C 16 6.13% -10.07% Unilever PLC ADR 15 3.97% -14.45% Axalta Coating Systems Ltd 14 1.53% -18.36% Dun & Bradstreet Holdings Inc 13 2.65% -14.49% QUALCOMM Inc 12 2.38% -16.20% Bath & Body Works Inc 11 1.85% -18.53% As of: 03/31/2022 The 10 Best and Worst Performing Stocks are determined based on the stock's contribution to the Fund’s return during the specified quarter. Read Important Investment Disclosures Read Important Investment Disclosures Sector Allocation (Equity) As of: 03/31/2022 View Allocation Details Allocation Details River Road Focused Absolute Value Fund (ARRFX) Sector Allocation (Equity) Investment Allocation Top 10 Industries Sector Sort Order Fund Russell 3000® Value Index Communication Services 27.09% 6.92% Financials 23.48% 21.05% Information Technology 16.04% 9.04% Consumer Discretionary 15.27% 5.14% Utilities 7.63% 5.41% Industrials 5.74% 11.22% Consumer Staples 3.44% 7.12% Cash & Other 1.31% 0.00% Bonds 0.00% 0.00% Energy 0.00% 7.26% Futures 0.00% 0.00% Health Care 0.00% 17.38% Materials 0.00% 4.08% Other Equities 0.00% 0.00% Real Estate 0.00% 5.37% As of: 03/31/2022 Investment Allocation 03/31/2022 Stocks 98.69% Bonds 0.00% Cash and Other 1.31% As of: 03/31/2022 Industry Fund Russell 3000® Value Index Media 20.36% 1.78% Diversified Financial Services 11.84% 3.05% Insurance 9.19% 4.11% Software 8.11% 1.49% Independent Power and Renewable Electricity Producers 7.63% 0.18% Interactive Media & Services 6.73% 1.18% Specialty Retail 6.00% 0.76% Professional Services 5.74% 0.62% Distributors 4.97% 0.13% IT Services 4.25% 2.44% % in Top 10 Industries 84.82% 15.74% As of: 03/31/2022 Read Important Investment Disclosures Investment Approach Investment Approach River Road Focused Absolute Value Fund A relatively concentrated portfolio of River Road’s best core ideas, the Fund is comprised of equity securities of U.S. and non-U.S. companies of all market capitalizations. The Fund’s Absolute Value® approach utilizes systematic and dynamic proprietary research to target companies exhibiting: Financial strength at attractive prices Shareholder-oriented management teams Undiscovered, under-followed, misunderstood companies with attractive business models Keep Calm and Remain Diversified A Short - and Long-Term Review on the Power of Diversification Read More About About River Road Asset Management Background River Road Asset Management was established in 2005 and provides institutional separate account and investment sub-advisory services to a broad range of domestic and international clients. The firm was founded upon a proprietary Absolute Value® investment discipline. This approach was developed by River Road’s founders and occupies a distinct niche within value investing styles. Learn More More Funds From River Road Asset Management ARDEX River Road Dividend All Cap Value Fund Seeks to provide high current income and, secondarily, long-term capital appreciation by investing primarily in a diversified, all cap portfolio of income producing equity securities. View Fund Details ARLSX River Road International Value Equity Fund The Fund seeks long-term capital appreciation. View Fund Details FQUAX River Road Large Cap Value Select Fund The Fund seeks long-term capital appreciation. View Fund Details CHTTX River Road Mid Cap Value Fund The Fund seeks to provide long-term capital appreciation. View Fund Details ARSVX River Road Small Cap Value Fund Seeks to provide long-term capital appreciation by investing in a portfolio of primarily small but also can invest in mid capitalization equity securities. View Fund Details ARSMX River Road Small-Mid Cap Value Fund Seeks to provide long-term capital appreciation by investing in a portfolio of small and mid capitalization equity securities. View Fund Details Read Important Investment Disclosures Founded 2005 Headquarters Louisville, KY Affiliate Since 2014 Discover how the boutique advantage helps generate alpha. Learn More About AMG